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Abstract:

A method and apparatus to create and manage a lease agreement is
disclosed. A pre-programmed lease control computer processes information
regarding a potential lessee for a lease of a property and carry's out
tasks of a lease control intermediary and stores data regarding the
potential lessee. A physical manifestation of a service product in the
form of a guaranty directed to periodic lease payments paid by an actual
lessee to the lessor is produced. The guaranty is determined based on
payments from said lessee to said lessor. The guaranty is for a
predetermined monetary amount defining a guaranty limit to be paid by the
lease control intermediary or a 3rd party insurer to 1) the lessor
upon failure of said potential lessee to pay periodic lease payments
and/or eviction by the lessor, 2) the lessor upon damages by the lessee
to the property, 3) to a party upon injuries to the party while on the
property, and/or 4) to the lessee upon damages or loss to the lessee's
contents on the property.

Claims:

1. A computerized system for creating and managing a lease agreement
comprising: a preprogrammed lease control computer to process information
regarding a potential lessee for a lease of a property, said
preprogrammed lease control computer remote from the lessor to carry out
tasks of a lease control intermediary, said lease control computer to
store predetermined data regarding the potential lessee; and means for
producing a physical manifestation of a service product in the form of a
guaranty directed to periodic lease payments paid by an actual lessee to
said lessor, a cost of the guaranty being determined based on payments
from said lessee to said lessor, said guaranty being for a predetermined
monetary amount defining a guaranty limit to be paid by the lease control
intermediary to the lessor upon failure of said potential lessee to pay
periodic lease payments, and 1) to be paid by the lease control
intermediary or a 3.sup.rd party insurer to the lessor upon damages by
the lessee to the property or 2) to be paid by the 3.sup.rd party insurer
or the lease control intermediary to a party upon injury by a party on
the property.

2. The method as recited in claim 1, wherein said guaranty being for a
predetermined monetary amount defining a guaranty limit to be paid by the
lease control intermediary or the 3.sup.rd party insurer to the lessee
upon damages or loss to contents of the lessee in the property.

3. The system as recited in claim 1, wherein said guaranty requires one
or more payments by said lessee to said lessor via a third party
collection intermediary.

4. The system as recited in claim 3, wherein said guaranty provides for a
portion of the one or more payments by said lessee to said lease control
intermediary to be paid to said lessor.

5. The system as recited in claim 1, wherein said guaranty provides for
an upfront payment by said lessee to said lease control intermediary.

6. The system as recited in claim 5, wherein said guaranty provides for
the lessee to provide periodic payments to said lease control
intermediary via a payment collection intermediary to reduce the upfront
payment.

7. The system as recited in claim 3, further comprising: means to produce
a physical manifestation of the service product in the form of a renewal
guaranty directed to periodic lease payments paid by the actual lessee to
said lessor, said renewal guaranty being determined based on payments
from said lessee to said lessor, said renewal guaranty being for another
predetermined monetary amount defining the guaranty limit to be paid by
the lease control intermediary to the lessor upon failure of said
potential lessee to pay periodic lease payments, to be paid by the lease
control intermediary or the 3.sup.rd party insurer to the lessor upon
damages by the lessee to the property, and to be paid by the lease
control intermediary or the 3.sup.rd party insurer to the lessee upon
damages or loss to the contents of the property, wherein said renewal
guaranty provides for an upfront payment by said lessee to be made to
said lease control intermediary, and wherein the upfront payment for the
renewal guarantee is less than the upfront payment for the guarantee.

8. The system as recited in claim 7, wherein the guaranty provides for a
portion of the one or more payments by said lessee paid to said lease
control intermediary to be placed in an account to fund the renewal
guaranty.

9. The system as recited in claim 8, wherein the guaranty provides for a
transfer of the guaranty from the property to a second property.

10. The system as recited in claim 7, further comprising means for
automatically sending an electronic reminder message to the lessee with
selectable options for the renewal guaranty.

11. The system as recited in claim 1, wherein predetermined data
regarding the potential lessee includes indication of a credit approval
by the lessor.

12. The system as recited in claim 3, wherein the payments made to lease
control intermediary or the 3.sup.rd party insurer is a function of the
monitory amount of the lease payments.

13. The system as recited in claim 1, wherein the predetermined monetary
amount defining a guaranty limit to be paid by the lease control
intermediary to the lessor includes legal eviction fees.

14. A computerized method for creating and managing a lease agreement
comprising: processing information, using a preprogrammed lease control
computer remote from the lessor, regarding a potential lessee for a lease
of a property to carry out tasks of a lease control intermediary; storing
with said lease control computer predetermined data regarding the
potential lessee; producing a physical manifestation of a service product
in the form of a guaranty directed to periodic lease payments paid by an
actual lessee to said lessor; and determining said guaranty based on
payments from said lessee to said lessor, said guaranty being for a
predetermined monetary amount defining a guaranty limit, the
predetermined monetary amount 1) to be paid by the lease control
intermediary to the lessor upon failure of said potential lessee to pay
periodic lease payments and 2) to be paid directly or indirectly by the
lease control intermediary or a 3.sup.rd party insurer, upon injury on
the property, to the injured party.

15. The method as recited in claim 14, further comprising: providing that
the guaranty be for a predetermined monetary amount that defines the
guaranty limit to be paid by the lease control intermediary or the
3.sup.rd party insurer to the lessee upon damages or loss to the contents
of the property.

16. The method as recited in claim 14, further comprising: providing with
the guarantee that one or more payments by said lessee to be made to said
lease control intermediary.

17. The method as recited in claim 16, further comprising: providing with
said guaranty that a portion of the one or more payments made by said
lessee to said lease control intermediary be paid to said lessor.

18. The method as recited in claim 14, further comprising: providing with
said guaranty that an upfront payment by said lessee be paid to said
lease control intermediary.

19. The method as recited in claim 17, further comprising: providing with
said guaranty that the lessee electronically transfer periodic payments
to said lease control intermediary via a third party payment collection
intermediary.

20. The method as recited in claim 16, further comprising: producing a
physical manifestation of the service product in the form of a renewal
guaranty directed to periodic lease payments paid by an actual lessee to
said lessor, said renewal guaranty being determined based on payments
from said lessee to said lessor, said renewal guaranty being for a
predetermined monetary amount defining a guaranty limit to be paid by the
lease control intermediary to the lessor upon failure of said potential
lessee to pay periodic lease payments, to be paid by the lease control
intermediary or the 3.sup.rd party insurer to the lessor upon damages by
the lessee to the property, and to be paid by the lease control
intermediary or the 3.sup.rd party insurer to the lessee upon damages or
loss to the contents of the property; and providing, with said renewal
guaranty, for an upfront payment by said lessee to said lease control
intermediary, wherein the upfront payment for the renewal guarantee is
less than the upfront payment for the guarantee.

21. The method as recited in claim 20, further comprising: providing with
the guaranty for a portion of the one or more payments by said lessee
paid to said lease control intermediary be placed in an account to fund
the renewal guaranty.

22. The method as recited in claim 20, further comprising: providing with
the guaranty for a transfer of the guaranty, where the transferred
guaranty provides that the predetermined monetary amount defining the
guaranty limit be paid by the lease control intermediary to the lessor
for a second property.

23. A computer readable storage medium comprising instructions which when
executed by a processor comprises: processing information, using a
preprogrammed lease control computer remote from the lessor, regarding a
potential lessee for a lease of a property to carry out tasks of a lease
control intermediary; storing with said lease control computer
predetermined data regarding the potential lessee; and producing a
physical manifestation of a service product in the form of a guaranty
directed to periodic lease payments paid by an actual lessee to said
lessor, the cost of said guaranty being established based on payments
from said lessee to said lessor, said guaranty providing for 1) a
predetermined monetary amount defining a guaranty limit, 2) a portion of
the predetermined monetary amount be paid by the lease control
intermediary to the lessor upon failure of said potential lessee to pay
periodic lease payments, 2) a portion of the predetermined monetary
amount be paid by the lease control intermediary or a 3.sup.rd party
insurer to the lessor upon damages by the lessee to the property, 3) a
portion of the predetermined monetary amount be paid by the lease control
intermediary or the 3.sup.rd party insurer to a party upon injuries to
the party while on the property, and 4) a portion of the predetermined
monetary amount be paid by the lease control intermediary or the 3.sup.rd
party insurer to the lessee upon damages or loss to the contents of the
property.

Description:

TECHNICAL FIELD

[0001] These claimed embodiments relate to a method for CREATING AND
MANAGING A LEASE AGREEMENT and more particularly to creating a lease
agreement between a lessor, lessee and a third party intermediary to
insure property protection and payment of rent.

BACKGROUND OF THE INVENTION

[0002] A method and apparatus for creating and managing a lease agreement
is disclosed.

[0003] When a potential tenant applies to become a tenant of a property,
the landlord typically runs a credit check on the potential tenant. The
landlord may require a security deposit and/or a rental deposit
(typically last months rent), or if the credit check reveals a low credit
score, the landlord may require a larger security deposit and multiple
months pre-payment of rent, or the landlord may refuse to rent the
property to the potential tenant. Often the tenant may not have the large
deposit and thus cannot rent the property. Also, once the property is
rented by the tenant and the tenant moves to a different property, this
rental process begins again.

[0004] In addition when a tenant rents property, the landlord often
requires that the tenant obtain renters insurance to cover liability in
the event of an accident/negligence of the tenant; however, renters
frequently purchase the required insurance on a monthly basis for a short
period of time, and then drop the policy after moving into the property.
Consequently in the event of an accident on the property caused by the
tenant, the tenant is not covered by the renters insurance policy, and
the landlord has to pay cash out of pocket for any repairs up to the
landlord's deductible.

SUMMARY OF THE INVENTION

[0005] In one implementation a method is disclosed for creating and
managing a lease agreement. In the method, information is processed using
a preprogrammed lease control computer remote from the lessor, regarding
a potential lessee for a lease of a property to carry out tasks of a
lease control intermediary. The lease control computer stores
predetermined data regarding the potential lessee, and produces one or
more physical manifestation of a service product in the form of a
guaranty directed to periodic lease payments to be paid by an actual
lessee to the lessor. The guaranty may be determined based on payments
from the lessee to the lessor. The guaranty is for a predetermined
monetary amount defining a guaranty limit. The predetermined monetary
amount is to be paid by the lease control intermediary to the lessor upon
failure of the potential lessee to pay periodic lease payments, and is to
be paid directly or indirectly by the lease control intermediary or a
third party, to a party injured on the property.

[0006] In another implementation, a computerized system for creating and
managing a lease agreement includes a preprogrammed lease control
computer that processes information regarding a potential lessee for a
lease of a property. The preprogrammed lease control computer may be
remote from the lessor and carries out tasks of a lease control
intermediary. The lease control computer stores predetermined data
regarding the potential lessee. A device is provided that produces one or
more physical manifestations of a service product in the form of a
guaranty directed to periodic lease payments paid by an actual lessee to
the lessor. The cost of the guaranty may be determined based on payments
from the lessee to the lessor. The guaranty is for a predetermined
monetary amount defining a guaranty limit to be paid by the lease control
intermediary to the lessor upon failure of the potential lessee to pay
periodic lease payments, and is paid by the lease control intermediary to
the lessor upon damages by the lessee to the property, or paid by the
lease control intermediary to a party upon injury by the party on the
property.

BRIEF DESCRIPTION OF THE DRAWINGS

[0007] The detailed description is described with reference to the
accompanying figures. In the figures, the left-most digit(s) of a
reference number identifies the figure in which the reference number
first appears. The use of the same reference number in different figures
indicates similar or identical items.

[0008]FIG. 1 is a simplified schematic diagram of system architecture for
creating and managing a lease agreement.

[0009]FIG. 2 is a simplified schematic diagram of a lease control
intermediary computer shown in FIG. 1 to create and manage a lease
agreement.

[0010]FIG. 3 is a flow chart of a process for creating and managing a
lease agreement using the lease control intermediary computer shown in
FIGS. 1 and 2.

[0011]FIG. 4 is an exemplary physical manifestation of a guaranty
generated by the lease control intermediary computer.

DETAILED DESCRIPTION

[0012] Referring to FIG. 1, exemplary system 100 is shown to create and
manage a lease agreement. System 100 includes a preprogrammed lease
control computer 102 that receives information in the form of tasks from
a lessee 103 (also known as a tenant) and/or a lessor 104 (also known as
a landlord) regarding the use of property (106) owned or controlled by
the lessor 104. Lease control computer 102 may receive such information
via an optional third Party Payment Collection Intermediary 108. Such
information may include data regarding the potential lessee and an
indication of a credit approval by the lessor 104. Lease control computer
102 may store such received information and access programs from storage
112. Lease control computer 102 includes instructions to generate a
guaranty 114 (that may include a physical manifestation, a lease
agreement, a lease addendum or a legal document/contract) that directs
the lease control intermediary 108 when and how to pay to a 3rd
party 116, lessor 104 or lessee 103. The guaranty may also include
language providing for (or referencing another document that provides
for) a third party insurer to pay a 3rd party 116, the lessor 104 or
the lessee 103 in the event of damages or injury on the property. The
lease control computer may be a server or a web site for receiving
information provided over a network, such as the world wide web or the
Internet.

[0013] The guaranty 114/physical manifestation may be a service product in
the form of a guaranty that defines periodic lease payments to be paid by
an actual lessee to the lessor. The manifestation may also state a cost
of the guaranty that, in one implementation, is determined based on the
amount of the payments made from the lessee to the lessor. The physical
manifestation may define a guaranty for a predetermined monetary amount
and may define a guaranty limit to be paid by the lease control
intermediary 102 (or a third party insurer) to the lessor 104. The
monetary amount could be paid upon failure of the lessee 103 to pay
periodic lease payments, and could be paid by the lease control
intermediary 102 to the lessor 104 upon 1) damages by the lessee 103 to
the property or 2) to by the lease control intermediary 102 to a 3rd
party 116 upon injury by the third party on the property. In one
implementation, the predetermined monetary amount defining a guaranty
limit to be paid by the lease control intermediary to the lessor could
include legal eviction fees. In a further implementation the monetary
amount could be provided to the lessee by the lease control intermediary
or the third party insurer for any liability claim, e.g. identity theft
loss, loss of employment, or stolen credit cards.

[0014] In another implementation, the guaranty 114 could specify that the
predetermined monetary amount to be paid by the lease control
intermediary 102 or the third party insurer to the lessee 103 upon
damages or loss to contents of the lessee in the property 106.

[0015] In a further implementation, the guaranty could require that the
payments by the lessee to the lessor be made via a third party collection
intermediary 108. The payments made to lease control intermediary 108
could be a function of the monitory amount of the lease payments or could
be set based on a maximum lease payment. The guaranty could further
specify that a portion or a percentage of the one or more payments by the
lessee 103 to the third party collection intermediary 108 be paid to the
lessor 104 and another portion or percentage of the payments be made to
the lease control intermediary 102. The guaranty could also provide that
if the lessee provides periodic payments to the lease control
intermediary via a payment collection intermediary 108, the lessee's
upfront payment could be reduced. In one implementation, the periodic
payments may be bi-weekly with the additional bi-weekly payments (on
months with more than two payments) going to the lessee's reserve
account. The reserve account may be used to pay for future guaranty
renewals (or may cover the initial guaranty).

[0016] The lease control computer 102, in another implementation, produces
a physical manifestation of the service product in the form of a renewal
guaranty directed to periodic lease payments paid by the actual lessee to
the lessor. The renewal guaranty can be determined based on the amount of
the payments made from the lessee to the lessor. The renewal guaranty can
be for another predetermined monetary amount defining the guaranty limit
to be paid by the lease control intermediary to the lessor upon failure
of the potential lessee to pay periodic lease payments. The monetary
amount can specify a guaranty limit to be paid by the lease control
intermediary or the third party insurer to the lessor upon damages by the
lessee to the property. The monetary amount can also be paid by the lease
control intermediary or the third party insurer to the lessee upon
damages or loss to the contents of the property. Further the renewal
guaranty can provide for an upfront payment by the lessee to be made to
the lease control intermediary. In another implementation, the upfront
payment for the renewal guarantee could be less than the upfront payment
for the initial guarantee.

[0017] The guaranty can provide for a portion of the one or more payments
made by the lessee paid to the lease control intermediary to be placed in
an account to fund the renewal guaranty. The guarantee can also provide
for a transfer of the guarantee from the initial property to another
property that the lessee may choose to lease.

[0018] The lease control computer may include instructions for
automatically sending an electronic reminder message to the lessee
containing selectable options for the renewal guaranty when the term is
over or near the end of the term of the lease.

Example Lease Control Intermediary Computer

[0019] Illustrated in FIG. 2 are selected modules of the Lease Control
Intermediary Computing device 200 (Computer 110 of FIG. 1) using process
300 shown in FIG. 3. Computing device 200 may be a freestanding device or
may be disposed in a networked computer connected to the Internet or a
network. Computing device 200 includes a processing device 204, memory
212, and Input/Output (I/O) device 222. Computing device 200 may include
one or more microprocessors, microcontrollers or any such devices for
accessing memory 212 or I/O device 208. Computing device 200 has
processing capabilities and memory suitable to store and execute
computer-executable instructions.

[0020] Computing device 200 executes instructions stored in memory 212,
and in response thereto, processes signals from I/O device 208 or
standard computer hardware (not shown). Hardware may include a display,
an input device and an I/O communications device 208. I/O communications
device 208 may include a network and communication circuitry for enabling
processor 204 to communicate with network 104, a printer or other
peripheral device.

[0021] The input device receives inputs from a user of the computing
device 200 or a mobile computing device (such as a laptop, a smart phone,
a cell phone, PDA or a tablet PC) and may include a keyboard, mouse,
track pad, microphone, audio input device, video input device, or touch
screen display. Display device may include an LED, LCD, CRT or any type
of display device to enable the user to preview information being stored
or processed by computing device 204.

[0022] Memory 212 may include volatile and nonvolatile memory, removable
and non-removable media implemented in any method or technology for
storage of information, such as computer-readable instructions, data
structures, program modules or other data. Such memory includes, but is
not limited to, RAM, ROM, EEPROM, flash memory or other memory
technology, CD-ROM, digital versatile disks (DVD) or other optical
storage, magnetic cassettes, magnetic tape, magnetic disk storage or
other magnetic storage devices, RAID storage systems, or any other medium
which can be used to store the desired information and which can be
accessed by a computer system.

[0023] Stored in memory 212 of the computing device 200 is an operating
system 214, a communications system application 220 and a library of
other applications or databases 218. Operating system 214 may be used by
application 220 to control hardware and various software components
within computing device 200. The operating system 214 may include drivers
for device 200 to communicate with I/O communications device 208. A
database or library 218 may include preconfigured parameters (or may be
set by the user before or after initial operation) such as server
operating parameters, server libraries, HTML libraries, API's and
configurations. An optional graphic user interface or command line
interface may be provided to enable application 220 to communicate with
the display.

[0024] Application 220 includes a guaranty producing module 226. Producer
module 226 includes instructions that processor 204 uses to process
information, within the preprogrammed lease control computer 200,
regarding a potential lessee for a lease of a property to carry out tasks
of a lease control intermediary 200.

[0025] The instructions, when executed by the processor, store with the
lease control computer 200 predetermined data regarding the potential
lessee. The instructions, when executed by computer 200, produce a
physical manifestation of a service product in the form of a guaranty
directed to periodic lease payments paid by an actual lessee to the
lessor and/or payments to be paid by the actual lessee to the third party
insurer. In one implementation, the physical manifestation/lease
agreement/lease addendum/contract/guaranty agreement is a text document.
The text document may be produced using a printer coupled with I/O device
208, may be displayed on a computer screen or may be provided via e-mail.
The instructions provide for the cost of the guaranty to be established
based on payments from the lessee to the lessor. The guaranty provides
for one or more of the following:

[0026] 1) a predetermined monetary amount defining a guaranty limit,

[0027] 2) a portion of the predetermined monetary amount to be paid by the
lease control intermediary to the lessor upon failure of the lessee to
pay periodic lease payments,

[0028] 3) a portion of the predetermined monetary amount be paid by the
lease control intermediary or the third party insurer to the lessor upon
damages by the lessee to the property,

[0029] 4) a portion of the predetermined monetary amount to be paid by the
lease control intermediary or the third party insurer to a party upon
injuries to the party while on the property, and

[0030] 5) a portion of the predetermined monetary amount to be paid by the
lease control intermediary or the third party insurer to the lessee upon
damages or loss to the contents of the property.

[0031] 6) a portion of the predetermined monetary amount to be paid by the
lease control intermediary to the lessor for legal eviction fees upon
failure of the lessee to pay periodic lease payments.

[0032] Illustrated in FIG. 3, is a process 300 for creating and managing a
lease agreement. The exemplary process in FIG. 3 is illustrated as a
collection of blocks in a logical flow diagram, which represents a
sequence of operations that can be implemented in hardware, software, and
a combination thereof. In the context of software, the blocks represent
computer-executable instructions that, when executed by one or more
processors, perform the recited operations. Generally,
computer-executable instructions include routines, programs, objects,
components, data structures, and the like that perform particular
functions or implement particular abstract data types. The order in which
the operations are described is not intended to be construed as a
limitation, and any number of the described blocks can be combined in any
order and/or in parallel to implement the process. For discussion
purposes, the processes are described with reference to FIG. 3, although
it may be implemented in other system architectures.

[0033] Referring to FIG. 3, process 300 is shown for Creating and Managing
a Lease Agreement System Architecture. In one implementation, process 300
is executed in a computing device, such as lease control computing device
200 (FIG. 2). Application 220, when executed by the processing devices,
uses the processor 204 and modules 208-226 shown in FIG. 2.

[0034] In block 302, application 220 in computing device 110 receives and
processes information to carry out tasks of a lease control intermediary.
The received information includes predetermined data pertaining to a
potential lessee for a lease of the property.

[0035] In block 304, application 212 stores in storage device 216 the
predetermined data regarding the potential lessee. The predetermined data
regarding the potential lessee could include an indication of a credit
approval by the lessor or the potential lessee's credit rating.

[0036] In block 306, application 212 determines a cost of a guaranty based
on payments from the lessee to the lessor. The guaranty is for a
predetermined monetary amount that defines a guaranty limit. In one
implementation, the predetermined monetary amount is to be paid by the
lease control intermediary to the lessor upon failure of the potential
lessee to pay periodic lease payments. Further, the predetermined
monetary amount may be paid by the lease control intermediary or the
third party insurer upon injury on the property to a party. Such payments
may be paid directly or indirectly from the lease control intermediary
and/or or the third party insurer to the injured party. In another
implementation, the cost of the guaranty may be a predetermined upfront
cost. The cost may be a percentage of the amount of rent being paid. The
percentage may be increased if the lessee requires additional liability
or other insurance coverage (e.g. for identity theft coverage, personal
property coverage). In one implementation the percentage may be changed
when the lessee moves to a new dwelling with a different rent payment.
The predetermined monetary amount defining a guaranty limit to be paid by
the lease control intermediary to the lessor could include legal eviction
fees.

[0037] In one implementation, the guaranty could provide for the lessee to
provide periodic payments to the lease control intermediary (and/or the
third party insurer) via a payment collection intermediary to reduce the
upfront payment/costs, where the periodic payments may be bi-weekly, with
the additional bi-weekly payments (on months with more than two payments)
going to pay the balance of the upfront payment/costs.

[0038] In block 308, computing device 110 determines the guaranty limits
of the guaranty. Such limits may be predetermined and set based on one or
more of the following characteristics: the amount paid for the lease, the
monthly lease payments, the credit worthiness of the Lessee, the risk
historically of similar properties and the value of the property. The
guaranty may be for a predetermined monetary amount that defines the
guaranty limit to be paid by the lease control intermediary or the third
party insurer to the lessee upon damages or loss to the contents of the
property.

[0039] In block 310, a payment for the lessor to the lease control
intermediary and/or the third party insurer is determined. Such
determination may be based on a percentage of monthly lease payments or
based on a maximum rental amount.

[0040] In block 312, application 220 produces, using I/O device 208, a
physical manifestation of a service product in the form of a guaranty
directed to periodic lease payments paid by an actual lessee to the
lessor. In one implementation, the guaranty may be for:

[0041] 1) a predetermined monetary amount that defines the guaranty limit
to be paid by the lease control intermediary or a third a party
intermediary insurer to the lessee upon damages or loss to the contents
of the property, accidental damage to the property, or injury to a person
on the property;

[0042] 2) a predetermined monetary amount that defines the guaranty limit
to be paid by the lease control intermediary to the lessor upon Lessee
Default;

[0043] 3) a predetermined monetary amount that defines the guaranty limit
to be paid by the lease control intermediary or the third party insurer
to the lessor upon damages to the property; or

[0044] 4) a predetermined monetary amount that defines the guaranty limit
to be paid by the lease control intermediary or 3rd party insurer to
an injured 3rd party upon injury of the injured 3rd party on
the property.

[0045] In another implementation, the guarantee may provide that one or
more payments by the lessee be made to the lease control intermediary
and/or or the third party insurer and may specify the monitory amount of
the payments.

[0046] In block 314, a determination is made by application whether the
lease is up for renewal. A determination continues to periodically be
determined in block 314 until the lease is up for renewal.

[0047] If the lease is up for renewal, in block 316, a reminder is
generated for transmission via e-mail or SMS for transmission to the
lessee. The reminder may include a list for lessee to select preferences
to generate a renewal guaranty. Such selection may be done via the
computer 110 (e.g. using a web site).

[0048]FIG. 4 shows an exemplary physical manifestation of a guaranty 400
generated by the lease control intermediary computer 110 to govern the
terms of an agreement between the Lessee and the Lessor. The Guaranty 400
may specify one or more of the following terms: 1) a predetermined
monetary amount defining a guaranty limit, 402 2) a portion of the
predetermined monetary amount to be paid by the lease control
intermediary to the lessor upon failure of the lessee to pay periodic
lease payments, 404 3) a portion of the predetermined monetary amount be
paid by the lease control intermediary or the third party insurer to the
lessor upon damages by the lessee to the property, 406 4) a portion of
the predetermined monetary amount to be paid by the lease control
intermediary or the third party insurer to a party upon injuries to a
party while on the property 408, 5) a portion of the predetermined
monetary amount is paid by the lease control intermediary or the third
party insurer to the lessee upon damages or loss to the contents of the
property 410 and/or 6) a portion of the predetermined monetary amount is
paid by the lease control intermediary to the lessor for legal eviction
fees upon failure of the lessee to pay periodic lease payments 412.

[0049] While the above detailed description has shown, described and
identified several novel features of the invention as applied to a
preferred embodiment, it will be understood that various omissions,
substitutions and changes in the form and details of the described
embodiments may be made by those skilled in the art without departing
from the spirit of the invention. Accordingly, the scope of the invention
should not be limited to the foregoing discussion, but should be defined
by the appended claims.